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Dec 29, 2012
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there's no deal, no new offer on the fiscal cliff crisis. president obama has just told the two senate leaders they should make the deal. the results immediately felt in the financial markets. look where the dow closed down 158 points when it became very clear nothing was happening and now take a look at where the numbers are in the after markets. we would open now down 315 points on the dow if we started trading now. down 315 points. we have much more on this throughout the rest of the program, but the market's very unhappy. we do have some good news to report tonight. looks like at least one cliff has been averted for the time being. the so-called container cliff. the union that represents dock workers and u.s. maritime lines came to an agreement today to extend their current contract for 30 days. this is a big relief now for the retail industry and consumers who were staring at real destruction again for the supply chain. here now is jonathan gold and he's vice president of supply chain and customs policy for the national retail federatio
there's no deal, no new offer on the fiscal cliff crisis. president obama has just told the two senate leaders they should make the deal. the results immediately felt in the financial markets. look where the dow closed down 158 points when it became very clear nothing was happening and now take a look at where the numbers are in the after markets. we would open now down 315 points on the dow if we started trading now. down 315 points. we have much more on this throughout the rest of the...
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Nov 22, 2012
11/12
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we don't want a deal on the fiscal cliff, we want a good deal on the fiscal cliff. >> right. now this is really key. first of all, i want it say one thing, regarding ben bernanke and his monetary safety net and he did say yesterday that he didn't think monetary policy could offset a fiscal cliff recession. i don't want to get into a lot of fed watching. i'm just saying, i'm not sure the federal reserve will do much more. maybe they will, maybe they won't. now regarding good deals versus bad deals, this is where i disagree with some of think kol a colleagues here. maybe you do too. if this is deal that jacks up tax rates, the capital gains rate, dividend rate, if it has a millionaire surtax as senator collins said, that's not such a hot deal. how would they react to a high tax on investor type of deal. >> they limit investments. they make investments less attractive. the stock market doesn't want a big raise on capital gains and dividends. the stock market is okay with a small one. the best is the 39% ordinary income tax hike. but essentially leave dividends and capital gains
we don't want a deal on the fiscal cliff, we want a good deal on the fiscal cliff. >> right. now this is really key. first of all, i want it say one thing, regarding ben bernanke and his monetary safety net and he did say yesterday that he didn't think monetary policy could offset a fiscal cliff recession. i don't want to get into a lot of fed watching. i'm just saying, i'm not sure the federal reserve will do much more. maybe they will, maybe they won't. now regarding good deals versus...
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Dec 12, 2012
12/12
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. >> the markets are watching the fiscal cliff deal very closely and they continue to move higher. that is the interesting part. do the big investors miss something. i say the markets should be optimistic. we are going to ask an expert next up. i'm larry kudlow. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-800-345-2550 your portfolio has tdd#: 1-800-345-2550 a better chance to grow. tdd#: 1-800-345-2550 and you can trade all our etfs online, tdd#: 1-800-345-2550 commission-free, from your schwab account. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 so let
. >> the markets are watching the fiscal cliff deal very closely and they continue to move higher. that is the interesting part. do the big investors miss something. i say the markets should be optimistic. we are going to ask an expert next up. i'm larry kudlow. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or...
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Nov 13, 2012
11/12
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cliff deal? let's get right to our special guest, tennessee republican senator bob co. let me read you a quote from bill kristol whose father is a supply side mentor of mine. quote, it won't kill the country if we raise taxes a little bit on millionaires. end quote. what's your take on kristol's quote? >> well, i do think we can look at some pro-growth reforms that do away with loopholes and credits and all of those kind of things we have been talking about for some time. we can do that in a way that sometime late economic growth. that is the way we need to focus and not on race. speaker boehner was out last week and -- talking about his willingness to do that. hope reply the president will step away from the rate issue and focus on this olive branch i think boehner rightfully has laid out. so -- i do hope we will solve this problem. >> okay. let me just pursue this a little bit. i'm in a challenging mode. okay. you know me. i'm a supply cider. i'm for a 15% plat tax rate. no deductions. we are n
cliff deal? let's get right to our special guest, tennessee republican senator bob co. let me read you a quote from bill kristol whose father is a supply side mentor of mine. quote, it won't kill the country if we raise taxes a little bit on millionaires. end quote. what's your take on kristol's quote? >> well, i do think we can look at some pro-growth reforms that do away with loopholes and credits and all of those kind of things we have been talking about for some time. we can do that...
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Dec 6, 2012
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we still have no fiscal cliff deal, but there's talk between president obama and tim geithner. congress has adjourned for a long weekend. that's kind of insane. eamon javers joins us. >> reporter: the president began his day this morning before an audience of business leaders and he continued his campaign of persuasion amongst some of the nation's top ceos. >> i am passionately rooting for your success. because if the companies in this room are doing well, then small businesses and medium sized businesses up and down the chain are doing well. if companies in this room are doing well, then folks get jobs, consumers get confidence, and we're going to be able to compete around the world. >> and then larry, later in the afternoon, our steve leishman sat down with treasury secretary tim geithner. geithner in that interview late in the afternoon made it clear that this is brinksmanship of the highest order. >> i want to understand the administration's position when it comes to raising taxes on the wealthy. those making more than $250,000. if republicans do not agree to that, is the a
we still have no fiscal cliff deal, but there's talk between president obama and tim geithner. congress has adjourned for a long weekend. that's kind of insane. eamon javers joins us. >> reporter: the president began his day this morning before an audience of business leaders and he continued his campaign of persuasion amongst some of the nation's top ceos. >> i am passionately rooting for your success. because if the companies in this room are doing well, then small businesses and...
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Dec 19, 2012
12/12
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whether a fiscal cliff deal includes a rate hike the fact is a tax is a tax. and a huge amount of money will move from the private sector to the government. by the way, it isn't going to solve the deficit. let's go to doug holts president of the american action forum. i think too few people have exam inned the impact of this thing. one way or the other, that is a lot of money draining from the private sector to the government. i would have to agree with you, this is an economy. i would put p it into one perce and you hear people talk about the numbers. but underneath the numbers you have to worry about the quality of the policy. it is the worst way to raise revenue, and that is attribute to the fact that the politics are trumping the politics right now. >> in economic turns if you put a 39.6% tax rate on millionaires and above, if you do that, would that be the least ownerous thing you have heard so far? >> i think the goal should be, the least we've seen so far. but it didn't get a great reception on the other side of the i'll. it remains to be seen what we w
whether a fiscal cliff deal includes a rate hike the fact is a tax is a tax. and a huge amount of money will move from the private sector to the government. by the way, it isn't going to solve the deficit. let's go to doug holts president of the american action forum. i think too few people have exam inned the impact of this thing. one way or the other, that is a lot of money draining from the private sector to the government. i would have to agree with you, this is an economy. i would put p it...
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Nov 20, 2012
11/12
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cliff deal. is it a real deal? all right. baker, i'll start with you. i'm not sure where you are. but, president obama has made it very clear. he wants 1.6 trillion dollars of new revenues over the next ten years. okay. i would argue in order to get that number, he's going to have to raise tax rates, which the republicans don't want as well as put caps on tax deconductions or loopholes. so therefore we have a mess on our hands. >> not too much of a mess. i'm enjoying the show. we're talking about the tax rates going down to the clinton era. we're creating 3 million jobs a year. the economy is growing 4% a year. we take away a few of the tax loopholes. that sounds good to me. basically we have a lot of people running around like chickens with their heads cut off. the economy collapsed because the housing bubble burst. this is all loo loo land here and it is not enough to get worried about but it makes for good news. >> it makes for great news. i also, tim geithner says we can get a resolution of a
cliff deal. is it a real deal? all right. baker, i'll start with you. i'm not sure where you are. but, president obama has made it very clear. he wants 1.6 trillion dollars of new revenues over the next ten years. okay. i would argue in order to get that number, he's going to have to raise tax rates, which the republicans don't want as well as put caps on tax deconductions or loopholes. so therefore we have a mess on our hands. >> not too much of a mess. i'm enjoying the show. we're...
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Nov 29, 2012
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if you say the right thing about the fiscal cliff deal, boy, will these markets turn on a dime and i would like to be optimistic. neither taxes nor spending nor entitlements were solved today. in fact, president obama never even mentioned the word spending. the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own int
if you say the right thing about the fiscal cliff deal, boy, will these markets turn on a dime and i would like to be optimistic. neither taxes nor spending nor entitlements were solved today. in fact, president obama never even mentioned the word spending. the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates...
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Dec 18, 2012
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cliff deal. but what we may be inching closer to is a millionaire's tax that raises virtually no revenue and is anti-growth. what good is that going to do? i need to ask our cnbc contributor, jared bernstein, jim pethokoukis and they are both with me on set. jimmy, millionaires are smart. they're not going to pay these taxes. and furthermore, it's going to stifle economic growth at the margin. >> this is a policy intul jens by the obama administration. we have this huge output gap, we're going to be raising taxes, when we tried this in 1993 under bill clinton, it only raised about a third of the forecasted revenue. we're not going to get nearly the amount of revenue. i wonder if jared could tell me exactly how many job this is going to create and how much economic growth it's going to create. and could you round it off fo the nearest none. >> to the nearest zero. first of all, i agree with you guys on the revenue point. we've been talking about the top 2% of households above $250,000. this is the
cliff deal. but what we may be inching closer to is a millionaire's tax that raises virtually no revenue and is anti-growth. what good is that going to do? i need to ask our cnbc contributor, jared bernstein, jim pethokoukis and they are both with me on set. jimmy, millionaires are smart. they're not going to pay these taxes. and furthermore, it's going to stifle economic growth at the margin. >> this is a policy intul jens by the obama administration. we have this huge output gap, we're...
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Nov 16, 2012
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cliff deal. that man is about to join us live. >>> plus, as we stand at the precipice of the cliff, is compromise possible? we'll ask congress jeff flake. all that up next on "kudlow." >>> welcome back to "the kudlow report." i'm larry kudlow. in this half hour, benghazi-gate rears its ugly head again today. two months after the deadly terrorist attack on our u.s. consulate in libya, lawmakers are finally briefed by intelligence, state and fbi officials. >>> call it president obama's bad medicine. my 2025 research shows the u.s. will have a full-blown doctor shortage because of obama care. >>> first up, with 46 days until the country's economy plummets off the tax and fiscal cliff, new signs tonight that democrats are digging in when it comes to raising taxes on the rich. take a listen to a letter president obama read in his first second-term press conference yesterday. >> it came from a man in tennessee who began by writing that he didn't vote for me. which is okay. but what he said was, even th
cliff deal. that man is about to join us live. >>> plus, as we stand at the precipice of the cliff, is compromise possible? we'll ask congress jeff flake. all that up next on "kudlow." >>> welcome back to "the kudlow report." i'm larry kudlow. in this half hour, benghazi-gate rears its ugly head again today. two months after the deadly terrorist attack on our u.s. consulate in libya, lawmakers are finally briefed by intelligence, state and fbi officials....
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May 16, 2012
05/12
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cliff deal in advance of the usual last-minute deadline? so the dow is down 33 points. gold continued its remarkable plunge. the good news is that the dollar is up. the bad news, could be a sign that some bad news is headed this way. you'll hear my take. it may surprise you. we begin this evening with the battle royal over the budget. john harwood joins us now with all the details. good evening, john. >> i hate to tell you they are not going to make that deal before the election. if anybody doubted it, it was on display. the distance between the parties today. first, president obama held a private meeting with congressional leaders to talk about his priorities on the budget and other issues, but only after calling them out publicly in a visit to a small business in washington about his to-do list to help the american economy. >> we want to sustain momentum, and one of the ways that we can sustain momentum is for congress to take some actions right now, even though it's election season, even though there's gridlock, even though there's parti
cliff deal in advance of the usual last-minute deadline? so the dow is down 33 points. gold continued its remarkable plunge. the good news is that the dollar is up. the bad news, could be a sign that some bad news is headed this way. you'll hear my take. it may surprise you. we begin this evening with the battle royal over the budget. john harwood joins us now with all the details. good evening, john. >> i hate to tell you they are not going to make that deal before the election. if...
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Dec 27, 2012
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no fiscal cliff dealing in sight. now we are talking about hitting the debt ceiling on december 31. what are the top trades for 2013? cnbc contributor michael farr. good to see you. great to have you here. >> thanks, michelle. wonderful to be with you. >> have you heard about what timothy geithner said tonight? >> you are way better looking than kudlow. i know you heard that. this is a much better screen to look at from our glide flattery will get you everywhere. did you hear secretary geithner sent out a note saying that -- letter, official letter saying we are going to hit the debt ceiling monday. lee business days notice. >> perfect. >> what will that do to the markets tomorrow? >> you and i talked about this is a couple of years ago when we hit hit it in july and i was dead wrong. i was entirely dead wrong. i thought congress would make sure we wouldn't lose our aaa debt rate. >> and we did. >> and -- yeah. i figured certainly logically that yields would go up on bonds. and that the stock market would fall and just the opposite happening. what happen this time to the markets sti
no fiscal cliff dealing in sight. now we are talking about hitting the debt ceiling on december 31. what are the top trades for 2013? cnbc contributor michael farr. good to see you. great to have you here. >> thanks, michelle. wonderful to be with you. >> have you heard about what timothy geithner said tonight? >> you are way better looking than kudlow. i know you heard that. this is a much better screen to look at from our glide flattery will get you everywhere. did you hear...
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Dec 28, 2012
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that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate. "the kudlow report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, in fact, get h
that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate....
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Dec 1, 2012
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in this half however, well, call it a fiscal cliff economic indicator. year end contract wheeling and dealing has major league baseball in a crash cliff frenzy. and just like baseball, taxes really matter for everything. to avoid next year's expected tax hike, companies are changing the timing of dividends and deals and capital gains and private equity partnerships and a whole lot more all to beat the tax man. >>> congress is tossing around the idea of dropping out of the paper dollar bill for hard coins. the government report finds the move could save taxpayers nearly $4.5 billion over 40 years. on the flip side of that coin is now the time for a return of a gold-backed dollar as legal tender. let's talk about this. we have the chairman of the american principles project. shawn i can never understand why first of all gold coin, which really circulate throughout the economy, but sort of like contraband. they're not regarded as legal tender and i think they should be. >> it's certainly the constitutional solution, larry. the states have the right to use g
in this half however, well, call it a fiscal cliff economic indicator. year end contract wheeling and dealing has major league baseball in a crash cliff frenzy. and just like baseball, taxes really matter for everything. to avoid next year's expected tax hike, companies are changing the timing of dividends and deals and capital gains and private equity partnerships and a whole lot more all to beat the tax man. >>> congress is tossing around the idea of dropping out of the paper dollar...
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Jun 7, 2012
06/12
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and for the life of me, i don't see why they can't deal with this whole fiscal cliff. they don't have to do entitlements. they don't have to do everything under the sun. just do the essential things that the cbo says if you don't do them, we're going into recession. in other words, obama should be trying to defeat a recession right now instead of out in hollywood with another fund-raiser. >> well, listen, if the president was not the amateur -- if it was the pro, if it was bill clinton, he'd be triangulating all over the place an rejoin it in 2013. i think the mayor was on to something. i think we know what the president's economic program is. it's his re-election. he believes the best thing we can do for the economy is get re-elect re-elected but he doesn't want to win re-election that requires him to sign off on the bush tax cuts. he'd wish to barely win than win handily and sign off on those bush tax cuts. >> let me tell you -- >> hang on, mayor, i want to get jennifer reuben in. i got another beef. we saw in wisconsin that blue collar democrats, we used to call the
and for the life of me, i don't see why they can't deal with this whole fiscal cliff. they don't have to do entitlements. they don't have to do everything under the sun. just do the essential things that the cbo says if you don't do them, we're going into recession. in other words, obama should be trying to defeat a recession right now instead of out in hollywood with another fund-raiser. >> well, listen, if the president was not the amateur -- if it was the pro, if it was bill clinton,...
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Dec 22, 2012
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so, will the fiscal cliff solve in ten days? i know there's a deal out there some place it may not be until january, but let's ask our free market friday panel what they think. we have the columnist for the hill and former dnc communications director katie pavlitz. and mr. greenhaus is going to stay with us. all right, katie. first of all, obama basically said in ten days we can get a deal, it sounds like a small deal, 250,000 is the middle class threshold after mr. boehner's plan "b" got defeated. is such a thing possible? or will we have to wait until the new year? >> we're probably going to have to wait until the new year, unless, of course, president obama comes back with this new plan -- the original plan that he had, which as you mentioned the $250,000 threshold. the fact is that boehner and obama's proposals really aren't that far apart right now. president obama wants $1 trillion in new taxes, john boehner has said he's willing to give $1 trillion. obama said he wants $800 billion in spending cuts, same thing for boehner
so, will the fiscal cliff solve in ten days? i know there's a deal out there some place it may not be until january, but let's ask our free market friday panel what they think. we have the columnist for the hill and former dnc communications director katie pavlitz. and mr. greenhaus is going to stay with us. all right, katie. first of all, obama basically said in ten days we can get a deal, it sounds like a small deal, 250,000 is the middle class threshold after mr. boehner's plan "b"...
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May 15, 2012
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. >>> america's falling off the fiscal cliff but no one in washington seems ready to make a deal. leaders in both parties gathered for a conference and discussed the country's fiscal health today, and in just a moment, house budget chairman paul ryan joins us exclusively. first up, cnbc's chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: larry, it will be months before washington deals with the so-called fiscal cliff of expiring tax cuts, automatic spending cuts an the need to raise the debt limit. but today many of the biggest players in washington at least began talking about it at a fiscal summit sponsored by the foundation of former commerce secretary and wall street executive >> peter: son. treasury secretary tim geithner led off by repeating the administration's call for a balanced deficit reduction plan that would call on wealthy americans to pay more. >> this set of expiring tax measures and automatic spending cuts should be a very powerful incentive for people on both sides of the aisle to figure out a balanced
. >>> america's falling off the fiscal cliff but no one in washington seems ready to make a deal. leaders in both parties gathered for a conference and discussed the country's fiscal health today, and in just a moment, house budget chairman paul ryan joins us exclusively. first up, cnbc's chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: larry, it will be months before washington deals with the so-called fiscal cliff...
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Dec 20, 2012
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if you want a deal on the fiscal cliff, today was a very bad day. only duelling press conferences. no progress behind the scenes. we'll talk about it a a few minutes. >> i'm hampton pierce earson. >> and gm shares got a nice pop. is this the end of government motors. "the kudlow report" starts right now. >>> first up tonight is president obama and house speaker john boehner escalate their war of words, new signs the fiscal cliff talks are on the brink of collapse. chief washington correspondent john harwood joins us from washington with the details. i look away for two seconds, john, and everything's falling astart. >> it looked a couple of days ago as if the two sides were getting closer. when president obama had a news conference at the white house today, he came out to talk about gun control measures in the wake of the connecticut tragedy, but the questions were mostly focused on the fiscal cliff. the president said he couldn't understand why john boehner was detouring to plan b because the differences are narrow enough that they can still work it out. >> i've said i'm willing t
if you want a deal on the fiscal cliff, today was a very bad day. only duelling press conferences. no progress behind the scenes. we'll talk about it a a few minutes. >> i'm hampton pierce earson. >> and gm shares got a nice pop. is this the end of government motors. "the kudlow report" starts right now. >>> first up tonight is president obama and house speaker john boehner escalate their war of words, new signs the fiscal cliff talks are on the brink of collapse....
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Jun 22, 2012
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if the fiscal cliff is the only way to deal with a deficit, we can do it. we have to do it. we've got to deal with the deficit. that cuts 4.5 trillion in spending. if that's what has to happen, i'm willing to take the risk. the economy is stronger than it was. we can do it. >> something tells me monica disagrees. >> george bush did it, monica. i heard the gov november of vermont say george bush did it. the last three years didn't happen. we are back to 2008. >> incredible how the left can't form a sentence without invoking president bush. we heard president reagan as if this presidency hasn't existed. we have had unprecedented spending, record breaking deficits and debt. anemic economic growth. staggeringly high unemployment. the jobs numbers are getting worse, not better. the problem is not more government workers. the solution is expansion of the private sector which was crushed by this administration with higher taxes, higher costs and the burden of socialized medicine. add it together and you have the fog of uncertainty that's put a jack boot on the private sector. until
if the fiscal cliff is the only way to deal with a deficit, we can do it. we have to do it. we've got to deal with the deficit. that cuts 4.5 trillion in spending. if that's what has to happen, i'm willing to take the risk. the economy is stronger than it was. we can do it. >> something tells me monica disagrees. >> george bush did it, monica. i heard the gov november of vermont say george bush did it. the last three years didn't happen. we are back to 2008. >> incredible how...
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Sep 11, 2012
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. >>> this evening, the president's leadership is being questioned over the fiscal cliff. listen tohouse speaker boehner over whether they can reach a deal with president obama. >> i'm not confident at all. the house has done its job on the sequester and looming tax hikes that will cost our economy some 700,000 jobs. the senate at some point has to act. on both of these, where's the president? where's this leadership? absent without leave. >> moody's today warned the fiscal cliff could cause another credit down grade. investors shrugged it off. the dow closed up 69 points, a 4 1/2 year high. with us to talk about the credit down grade and failed obama leadership we welcome back tom coburn and mr. rice and famed investor jim rogers sorts out the market for us. as america honors 9/11, armed lo hooligan hooligans tear down the american flag as president obama is accused of snub ibing netanyahu from israel as the crisis deepens. >>> we welcome former white house chief of staff, andy card. we begin tonight with the biggest ripoff perpetrated on the american people. the chicago
. >>> this evening, the president's leadership is being questioned over the fiscal cliff. listen tohouse speaker boehner over whether they can reach a deal with president obama. >> i'm not confident at all. the house has done its job on the sequester and looming tax hikes that will cost our economy some 700,000 jobs. the senate at some point has to act. on both of these, where's the president? where's this leadership? absent without leave. >> moody's today warned the fiscal...
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after this elicks grover, did people want to see common ground to deal with a fiscal cliff recession or trillion deficits as far as the eye can see? is the gop going to play a weak hand is that going to happen here? >> i would argue the republican house has as much power as the president. with solid majority that will continue for year to come because of redistricting and they were running a committed not just to stopping the tax increases to spending but voted for the ryan plan. it reforms entitlements and takes the tax rates to 25% and it is a co hern't ent package. obama wrote a budget that no democrat voted for, it was that silly. it claimed savings by not occupying iraq for the next 20 years. he won a mandate not to be romney. he did not win a mandate not to raise taxes and fix the economy. >> john boehner says we can cap deductions, probably produce $400 billion coming up pretty fast. no change in tax rates. so it is not a flat tax reform but no increase in marginal tax rates. can you and your pledge, with the pledge be okay with the bay nor plan to increase revenues by capping
after this elicks grover, did people want to see common ground to deal with a fiscal cliff recession or trillion deficits as far as the eye can see? is the gop going to play a weak hand is that going to happen here? >> i would argue the republican house has as much power as the president. with solid majority that will continue for year to come because of redistricting and they were running a committed not just to stopping the tax increases to spending but voted for the ryan plan. it...
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cliff and to make a deal without giving up growth principles. but when you say conservatives don't support boehner, what is eric cantor, what is paul ryan? what is jeb henesling if he's not a conservative? what is tom price if he's not a conservative? what exactly are you smoking? the top conservatives in the house support boehner. >> well, i actually don't think that somebody like tom price would if he has his choice of who he could pick out of everyone. we should have the power of self-determination. we shouldn't get seniority decide, this person should be the next person -- >> look. he is running the house. he's the speaker of the house. you confuse that with running the conservative movement. >> well, then why don't you come out and say, we shouldn't raise taxes. boehner came out and said we should raise taxes. >> i think boehner is doing the best he can to prevent marginal tax rates from rising. i think that's a very noble cause after conservatives and republicans lost in the last election. i think boehner's done the exact right thing. >> i
cliff and to make a deal without giving up growth principles. but when you say conservatives don't support boehner, what is eric cantor, what is paul ryan? what is jeb henesling if he's not a conservative? what is tom price if he's not a conservative? what exactly are you smoking? the top conservatives in the house support boehner. >> well, i actually don't think that somebody like tom price would if he has his choice of who he could pick out of everyone. we should have the power of...
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president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> whow does taxing the rich hep the poor rise above poverty and get a job? let's talk to larry elder. he is the author of the great book, "dear father dear son". welcome back. how does taxing successful wealthy people help the poor get out of poverty. well for people who think like i think it doesn't make any sense. but understand something, that is not what this is all about. t
president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best...
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my next guest says put fiscal cliff fears to bed because a deal will be reached. here now is ken hebner of capital growth management. ken, as always, it's great to see you. all right. i'll put the fiscal cliff to bed. you see the progress going on. we just reported tonight the president's going to have a presser, statement tomorrow. john boehner has already had one. he's going to have a second one. looks like something good is going to happen. if that happens, let's put our optimistic hats on. how good would that be for stocks? >> well, we have the economy moving ahead slowly now. with an acceleration, i believe, coming from rising housing prices and rising housing starts. housing prices in this country, which have been going down for five or six years, in the last six months have started up and they're up broadry and stro rly in many markets. this is not only going to drive housing starts higher but be a tremendous positive for consumer confidence because along with stocks, the value of people's house, the biggest asset they have. it's been under downward pressur
my next guest says put fiscal cliff fears to bed because a deal will be reached. here now is ken hebner of capital growth management. ken, as always, it's great to see you. all right. i'll put the fiscal cliff to bed. you see the progress going on. we just reported tonight the president's going to have a presser, statement tomorrow. john boehner has already had one. he's going to have a second one. looks like something good is going to happen. if that happens, let's put our optimistic hats on....
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on the fiscal cliff before the november election and before we get a recession? let's turn to capitol hill, two distinguished house members. we welcome back new york democratic gregory meeks and republican conference chairman from texas. mr. hensley, you were involved very deep lin these discussions last year. i want to ask you how you read this. president obama told c brbs ""f the nation"" yesterday. he would make a compromised deal, 2 w$1/2 of spending cuts for every dollar of revenues. first, is he talking about the budget now to deal with the cliff problem or some far away place in kansas we have no sense of what he's really getting for? >> larry, i don't know the answer to the question. wave heard the president kind of whisper these sweet nothings in our ear before. i mean, what we do know is unfortunately we now have more debt racked up in 3 1/2 years of his administration than the previous 200. he hasn't shown a willingness to do this in the past. the bottom line is we're still on track for the largest tax increase in america's history. no fundamental enti
on the fiscal cliff before the november election and before we get a recession? let's turn to capitol hill, two distinguished house members. we welcome back new york democratic gregory meeks and republican conference chairman from texas. mr. hensley, you were involved very deep lin these discussions last year. i want to ask you how you read this. president obama told c brbs ""f the nation"" yesterday. he would make a compromised deal, 2 w$1/2 of spending cuts for every...
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we've got more work to do. 24 days until our economy falls off the tax and fiscal cliff. just where do we stand on a deal coming out of washington, d.c.? cnbc correspondent joins us with all the details. >> reporter: as you know the white house's strategy since the election has been to break republican resistance on two issues. one is tax rates and one is an increase in the debt limit. he hasn't succeeded or budged off that attempt so far which is why john boehner came out in a news conference today and slammed the white house for not being willing to compromise. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counter offer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk or economy right to the edge of the fiscal cliff. >> a few hours later you had a slight indication of flexibility from the administration. vice president joe biden was out. he reiterated those two nonnegotiable demands on the part of the administratio
we've got more work to do. 24 days until our economy falls off the tax and fiscal cliff. just where do we stand on a deal coming out of washington, d.c.? cnbc correspondent joins us with all the details. >> reporter: as you know the white house's strategy since the election has been to break republican resistance on two issues. one is tax rates and one is an increase in the debt limit. he hasn't succeeded or budged off that attempt so far which is why john boehner came out in a news...
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what's your forecast of dealing with the fiscal cliff? are we going to have to wait for russian roulette after the election? >> no. but, larry, this all does underscore the import of this election. these are the stakes. do we want an america where individuals, small business owners, working families can dream the big credreams and go about earning success or do we want a government that will suck more out of the private sector and have washington determine capital. >> can we stop a $450 billion tax hike with higher marginal tax rates on investor, small business owners, plus obamacare has another 4% on successful business owners. can you stop that? >> larry, if we want to grow america again we've got to elect mitt romney and paul ryan. period, the end. >> that's the bottom line. >> that is the bottom line. yes, we can avoid the fiscal cliff. yes, we can put things in motion to grow this economy to cut spending, make sure taxes don't go up on anybody, reduce corporate and marginal rates. we can do it but we have to be sure republicans win t
what's your forecast of dealing with the fiscal cliff? are we going to have to wait for russian roulette after the election? >> no. but, larry, this all does underscore the import of this election. these are the stakes. do we want an america where individuals, small business owners, working families can dream the big credreams and go about earning success or do we want a government that will suck more out of the private sector and have washington determine capital. >> can we stop a...
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plus, investors see if america doesn't deal with the fiscal cliff we are headed into a recession. i think stocks are already discounting this bad news. first up, the congressional budget office predicts another recession next year if congress doesn't act on the looming tax and fiscal cliff. today i spoke with mitt romney's running mate paul ryan and i asked what a romney-ryan administration would do in its first hundred days to avoid the recession threat. take a listen to what he told me. >> well, look. just so you know i authored the legislation and passed it through the house already that prevents these devastating defense cuts, that cuts spending in other areas of government to replace the spending cuts for the pentagon so we don't have these devastating defense cuts the cbo says could be a part of triggering a recession. don't forget that we already also passed in the house an extension of all the tax policies, current law tax rates for another year to buy time for fundamental tax reform. mitt romney supports that. so what we are saying is, what we have already done, we have s
plus, investors see if america doesn't deal with the fiscal cliff we are headed into a recession. i think stocks are already discounting this bad news. first up, the congressional budget office predicts another recession next year if congress doesn't act on the looming tax and fiscal cliff. today i spoke with mitt romney's running mate paul ryan and i asked what a romney-ryan administration would do in its first hundred days to avoid the recession threat. take a listen to what he told me....
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lee cooperman, if kudlow gives you a romney reelection, a much milder fiscal cliff and some kind of bipartisan debt deal next year, if i give you all that because of my respect and affection for you, how high can the dow jones go in the next couple of years? >> first, i would thank you for that gift, a wonderful gift. i will prosper even more. i would say 1,555 minute s&p. make no mistake about it, no matter what is elected, we have wood to chop in this country. we cannot continue down this path of trillion-dollar deficits year in and year out where the fed is buying the deficit, that the federal government is printding. that's not going to wash down the road. >> we must have a change otherwise we're going to go bankrupt and we will not be the same country. lee cooperman, you are terrific. thank you very much for your time. we appreciate it. >>> coming up on "kudlow," the 12-day countdown to the election. is it all about ohio? folks, i have to tell you, i'm thinking mitt could sweep the entire midwest. and i'm going to try to show you how. >>> later in the show, experts warning the entire east
lee cooperman, if kudlow gives you a romney reelection, a much milder fiscal cliff and some kind of bipartisan debt deal next year, if i give you all that because of my respect and affection for you, how high can the dow jones go in the next couple of years? >> first, i would thank you for that gift, a wonderful gift. i will prosper even more. i would say 1,555 minute s&p. make no mistake about it, no matter what is elected, we have wood to chop in this country. we cannot continue...
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cliff. by the way, that signal cost stocks 185 points on the dow. and because those tax hikes not only threaten future economic growth, they also include big penalties on capital gains, dividends and other forms of investment. plus, get this. the president wants a $1.6 trillion tax hike over the next decade. itself, a horrific number and begs the question, what is the government going to do with all our money? >>> and have you seen this video? in response to weeks of rocket attacks, israel gets their man with this missile attack on the military leader of hamas. now, israel is launching a full-scale ground attack on the hamas terrorists which are backed by iran, of course. by the way, this is all happening while we have no cia director here at home. >>> first up today, in his first news conference since being re-elected, president obama, with rhetoric sometimes reminiscent of his tax-the-rich campaign mantra, he appeared to dig in his heels on extending tax cuts for the wealthiest americans.
cliff. by the way, that signal cost stocks 185 points on the dow. and because those tax hikes not only threaten future economic growth, they also include big penalties on capital gains, dividends and other forms of investment. plus, get this. the president wants a $1.6 trillion tax hike over the next decade. itself, a horrific number and begs the question, what is the government going to do with all our money? >>> and have you seen this video? in response to weeks of rocket attacks,...
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the fiscal cliff on the spending side and tax side, but they are not. and so as a result, at least they are not making things worse. i think we'll come to a point this year, maybe because of china, your previous guests pointed out, maybe because of the euro, where we begin to get very nervous again, about the credit rating, the tax increase and if we hit a wall in terms of growth, the president is going to want to do something. i think it's a little late, though. this is american as facebook. in other words, if you have a good opinion of congress who are you? and the pollsters want to know your families. who are these nine or 11% who like congress? do you know them personally? are they your neighbors? >> they are the last loyal americans. they just like everything. the reality of it is, what's interesting, even though the congressional ratings are terrible as an institution, the ballot for the generic ballot for congress is close with the republicans a little ahead. it's really partisan and what michelle is talking about, the house has sent over 30 bill
the fiscal cliff on the spending side and tax side, but they are not. and so as a result, at least they are not making things worse. i think we'll come to a point this year, maybe because of china, your previous guests pointed out, maybe because of the euro, where we begin to get very nervous again, about the credit rating, the tax increase and if we hit a wall in terms of growth, the president is going to want to do something. i think it's a little late, though. this is american as facebook....
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and mitt romney does not want a grand bargain deal on the so-called fiscal cliff because a lame duck democratic congress and a lame duck democratic president. why do it? instead, romney will want his own program to go into place in his first 100 days to reignite economic growth. and yes, the dow climbs 125 points despite some bad consumer confidence numbers, a weak factory report, but i still fret the dollar deflation is in the air, may harm stocks. so here's the question i have. will the u.s. fed come to the rescue of europe by swapping more dollars to the europeans, who are literally begging for dollars? and we have some breaking news. the feds are investigating mark zuckerberg. this as the facebook stock continues to plummet. first up, a likely win in texas tonight officially is going to hand mitt romney the gop presidential nomination. meanwhile, team obama unleashes the attack dogs in yet another personal attack. this time targeting romney's association with donald trump. cnbc's john harwood has all the gory details. good evening, john. >> reporter: good evening, larry. this is
and mitt romney does not want a grand bargain deal on the so-called fiscal cliff because a lame duck democratic congress and a lame duck democratic president. why do it? instead, romney will want his own program to go into place in his first 100 days to reignite economic growth. and yes, the dow climbs 125 points despite some bad consumer confidence numbers, a weak factory report, but i still fret the dollar deflation is in the air, may harm stocks. so here's the question i have. will the u.s....
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, avoid the fiscal cliff, agree to hold the tax increases in abeyance. the market would give you a big bump for that. >> this is great. at that cabinet meeting yesterday the first one in six months, okay, after 120 or after how many fundraisers, full extension of the bush tax cuts. never raise taxes in a bad economy. lower the corporate tax rate. and do the keystone pipeline which is at least 150,000 direct and indirect blue collar jobs. just like that. boom, boom, boom. he doesn't do it. he's like boom, boom, boom, i hate bain capital, i hate swiss bank accounts and i want to tax rich people and millionaires. i don't get it. i don't get it. you tell me. i don't understand it. >> he doesn't want to approve the keystone pipeline until after the election because he wants to please the environmentalists. we need to reduce the regulatory burden on entrepreneurs. >> maybe i should interrupt you. >> hold that thought. >> i'll hold my interruption. >> this will be very interesting show. our panel is sticking around. we'll have much more to say. jimmy williams,
, avoid the fiscal cliff, agree to hold the tax increases in abeyance. the market would give you a big bump for that. >> this is great. at that cabinet meeting yesterday the first one in six months, okay, after 120 or after how many fundraisers, full extension of the bush tax cuts. never raise taxes in a bad economy. lower the corporate tax rate. and do the keystone pipeline which is at least 150,000 direct and indirect blue collar jobs. just like that. boom, boom, boom. he doesn't do it....
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it's the potential of the fiscal cliff. ryan lizzo of the new yorker magazine says sources say if president obama doesn't get the deal he wants on the cliff then we'll have all the tax cuts will expire and we will, in fact, have a massive recession. i don't know if you saw that piece. it's all over the place. this is obama being his most stubborn and i think silly on the economy. >> he really is, larry. he's driving his own truck into a ditch here. no wonder he's talking about europe. anything within his control he doesn't want to do, doesn't know how to do or wants to do thing it is american people don't want. why don't we borrow more billions? have another stimulus, another after that and another after that. have we not spend enough money? have we not gone into debt enough under this president? it's absurd. it e it's not common sense. i think he'll have difficulty explaining the rest of his idea which is the road to prosperity is bigger government, hiring more civil servants. that's not accurate and not a mess sang the am
it's the potential of the fiscal cliff. ryan lizzo of the new yorker magazine says sources say if president obama doesn't get the deal he wants on the cliff then we'll have all the tax cuts will expire and we will, in fact, have a massive recession. i don't know if you saw that piece. it's all over the place. this is obama being his most stubborn and i think silly on the economy. >> he really is, larry. he's driving his own truck into a ditch here. no wonder he's talking about europe....
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tax reform or fiscal cliff or whatever. he said you have had your chance and you didn't do it. you know romney is going to make the case again. do you think president obama will try to make that case also? >> i think he will try to make that case that he has found republicans unwilling to compromise. i think what he will also try to do is that they see a mitt romney who is trying to pivot to the center. i think on issues around the economy and issues around social issues like women's health and issues like that, they will try to paint mitt romney as more like paul ryan and like the tea party. >> how can the president possibly make the case that he has been a successful leader of a bipartisan process. mitt romney did it in massachusetts and he did it every day in business when the only thing that matters is results and you have to come up with compromises and making a choice that gets something done. you can't blame the other side. >> the bob woodward book says that. i don't know if people have read the book. thank you very
tax reform or fiscal cliff or whatever. he said you have had your chance and you didn't do it. you know romney is going to make the case again. do you think president obama will try to make that case also? >> i think he will try to make that case that he has found republicans unwilling to compromise. i think what he will also try to do is that they see a mitt romney who is trying to pivot to the center. i think on issues around the economy and issues around social issues like women's...
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secondly, romney made a deal to stop the fiscal tax cliff. he will start in right away. >> assuming he takes the senate. >> this is a time when earnings may not be near as important. >> we shift our economy back to an incentive-based economy and aaway from an entitlement economy. that's the biggest way to sum it up. >> do you have a problem with na? that paradigm that michael just uttered, which the romney paradigm versus the obama paradigm, do you have a problem with that? >> i don't see why anybody has a problem with that. that's a winning argument. to sort of start a fight on the set, i would say if obama is re-elected, the world will not end. it will look less aattractive from an investment environment. >> how many dow points will fall if obama is re-elected in your opinion? >> i would say 10% at least. >> just because obama wins? >> absolutely. >> and his policies? >> i'm just baiting you and see how you come out this. >> the policies are for real. the fact that he wins the stock market. >> a no growth economy is not going to support a p
secondly, romney made a deal to stop the fiscal tax cliff. he will start in right away. >> assuming he takes the senate. >> this is a time when earnings may not be near as important. >> we shift our economy back to an incentive-based economy and aaway from an entitlement economy. that's the biggest way to sum it up. >> do you have a problem with na? that paradigm that michael just uttered, which the romney paradigm versus the obama paradigm, do you have a problem with...
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cliff. and is the china economy a global disaster in the making? front page new york times reports massive piles of unsold inventory goods and when the correction comes it could be devastating for china and the world. first up, so far this election cycle it appears president obama has been tall on mitt romney attacks but short on second term agenda proposals. or has he? take a listen. >> this is my last election. after my election i have more flexibility. >> i understand. >> what does that mean? more flexibility? today, british daily the independent reports that the obama administration is pushing greece to delay a potential exit from the euro zone until after november 6. if all that weren't bad enough his economic agenda at home could be higher taxes and spending, worse regulation, nationalizing health care. why no mention of this on the campaign trail? he never says much of anything. we have keith boykin, jim pethakoukous. i want to start with the report that the president and his people a
cliff. and is the china economy a global disaster in the making? front page new york times reports massive piles of unsold inventory goods and when the correction comes it could be devastating for china and the world. first up, so far this election cycle it appears president obama has been tall on mitt romney attacks but short on second term agenda proposals. or has he? take a listen. >> this is my last election. after my election i have more flexibility. >> i understand. >>...
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cliff tax hikes. where's the largic of this position or is it just hypocritical sweetheart deal stuff? >> i don't agree it's a tax killer. the taxes are put into place that the sectors of health care benefit reform, insurers, hospital, medical device companies hoar going to see gain when you have 30 million americans going into the health care system that they also help keep the law sustainable. >> but, wait, i don't understand. we're talking about taxes. come back to the main point. the main point is why are these 18 democrats suddenly opposed to a job killing tax, particularly elizabeth warren, particularly al franken, who are two lefty liberals who love high taxes. is it because, a, they've seen the logic of supply side economics or, b, they're hypocrites because they're just trying to protect their own companies in their own states? >> they have the medical device lobby in their back yard, that's who they're listening to. if they don't want to do this tax, bits $30 billion over ten years to fund t
cliff tax hikes. where's the largic of this position or is it just hypocritical sweetheart deal stuff? >> i don't agree it's a tax killer. the taxes are put into place that the sectors of health care benefit reform, insurers, hospital, medical device companies hoar going to see gain when you have 30 million americans going into the health care system that they also help keep the law sustainable. >> but, wait, i don't understand. we're talking about taxes. come back to the main...
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cliff? >> if plan b is dead, we get somewhat of a sell-off now. 10 to 15 handles. not a big deal. someone will say something to placate the market and make us believe everything will be fine and we'll ficker things out. in our business we always say, there's a buy the rumor, sell the fact. that means the market tends thing in brb the market comes out. we're setting ourselves up for a fairly large one once pe settle the fiscal cliff issue and after the deadline, by the way and republicans able to dial back to what they want. >> yeah. i think that's ride. the deadline may well pass and a defeated vote may improve the chances the deadline may pass. thank you very much, my friend. >>> back after the break. please, stay with us. breaking news. it around good. still in limbo. the house remains in an unexpected recess. not good when looking for a good vote. all about speaker boehner's plan b, which really is in my opinion, the least pro-growth factor out there, but it may not survive. well, if it i
cliff? >> if plan b is dead, we get somewhat of a sell-off now. 10 to 15 handles. not a big deal. someone will say something to placate the market and make us believe everything will be fine and we'll ficker things out. in our business we always say, there's a buy the rumor, sell the fact. that means the market tends thing in brb the market comes out. we're setting ourselves up for a fairly large one once pe settle the fiscal cliff issue and after the deadline, by the way and republicans...
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major part of the fiscal cliff. >> they say it's no longer reliable. that just gets the hair on the back of my head up. my blood boiling. this has to change. >> i couldn't agree more. let me make different points though. first of all, this may surprise you and allison. every single one of the countries above us on the list with the exception of singapore collects significantly more tax revenues than we do. i don't think that's the problem. i think the problem is this was highlighted in both the articles about this and the piece itself. is declining public trust in government. i know you want to take it to president obama, larry. i think it's about congressional gridlock. think back to the debt crisis. the debt ceiling. the threat to actually default on our currency. very much a function of congressional gridlock led by the tea party. to me that's a perfect microcosm for what's gone wrong. if you dig into the guts you see u.s. infrastructure going from rank eight when we were in first place to rank 25. >> allison, we have spent so much money on the publ
major part of the fiscal cliff. >> they say it's no longer reliable. that just gets the hair on the back of my head up. my blood boiling. this has to change. >> i couldn't agree more. let me make different points though. first of all, this may surprise you and allison. every single one of the countries above us on the list with the exception of singapore collects significantly more tax revenues than we do. i don't think that's the problem. i think the problem is this was highlighted...
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Oct 18, 2012
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do you think romney will say you're going to foster a recession with your attitude on this fiscal cliff? >> look at the attitude on the campaign trail, romney has a debt clock behind him, he's with boehner all the time, he wants to talk about the debt. >> i don't want to talk about debt, i want to talk about growth, growth, growth. >>> paul ryan says the president wants us to have four more years of the same, can we afford it? the numbers out from the congressional research service, they show that federal and state governments combined have spent $1.03 trillion on welfare. it's a 32% increase in federal spending on welfare just since fiscal year 2008. we need to talk about this. i'm now joined by john berenstein, and douglas eken who's president of the american action forum. >> this kind of numbers, it bankrupting the government, it's ruining the work ethic of the country and they're trying to buy the election, just like fdr, spend and spend. buy and buy. >> first of all, let's be clear, when you say welfare, a lot of people probably think of cash benefits to poor people. that's actuall
do you think romney will say you're going to foster a recession with your attitude on this fiscal cliff? >> look at the attitude on the campaign trail, romney has a debt clock behind him, he's with boehner all the time, he wants to talk about the debt. >> i don't want to talk about debt, i want to talk about growth, growth, growth. >>> paul ryan says the president wants us to have four more years of the same, can we afford it? the numbers out from the congressional research...
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Nov 10, 2012
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nobody's talking spending cuts. >> i think in the context of the fiscal cliff the answer is probably no, but in the context of sequestration which is the other half of this fiscal cliff. the answer has to be yes, and we have to save about $109 billion this year. some of that could be with additional revenue and my thought is if you're going to give the additional revenue on the fiscal cliff side then you try to achieve the savings of $109 billion and by the way, that's not that hard to do and that would avoid the sequestration, and those are the components of the deal here that could be struck. >> so you think -- you think -- let me just understand this, because this is the first time i've heard this. you think they'll throw out the automatic budget cuts and insert a new set of budget cuts that have bipartisan support? that sounds like a very difficult thing to me. >> it's not that hard and, yes, i do and here's why. the super committee didn't come up with the $1.2 trillion in cuts over ten years. as a result, we have to cut $109 billion out of the budget each year for ten years. wel
nobody's talking spending cuts. >> i think in the context of the fiscal cliff the answer is probably no, but in the context of sequestration which is the other half of this fiscal cliff. the answer has to be yes, and we have to save about $109 billion this year. some of that could be with additional revenue and my thought is if you're going to give the additional revenue on the fiscal cliff side then you try to achieve the savings of $109 billion and by the way, that's not that hard to do...
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Jun 18, 2012
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cliff on the agenda, why can't they get anything done? ceos get stuff done. people make deals. they walk away and everyone has common ground and common benefit. what's wrong with washington? >> people in washington like to grant favors and withhold favors. they like to raise money to run campaigns and they would not raise as much money if things were simpler for people and corporations. >> but you know the simpson-bowles arrangement. the president talks about it, mitt romney talks about it. we almost had a deal a year ago. what's missing? is it a leadership quotient in your opinion? what's missing from good deal-making where people can walk away from the table satisfied and do the country some good? >> what is missing is leadership, larry. the first task of any leader in any situation is to define reality. we don't see this president defining the current fiscal reality and the outlook for the economy of this country in a way that would persuade people that change is needed. >> and put urgency into it. >> it is an usrgent matter. >> you wr
cliff on the agenda, why can't they get anything done? ceos get stuff done. people make deals. they walk away and everyone has common ground and common benefit. what's wrong with washington? >> people in washington like to grant favors and withhold favors. they like to raise money to run campaigns and they would not raise as much money if things were simpler for people and corporations. >> but you know the simpson-bowles arrangement. the president talks about it, mitt romney talks...
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Oct 19, 2012
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well, the ice seems to be cracking a little on the frozen fiscal cliff front. chris van holland, number 3 house democrat, calling for extending the 2% payroll tax holiday. not permanently but as part of a larger deal. van holland says he sees a "good chance" congress will find a way to avoid all the spending cuts that part of the fiscal cliff. >>> chevy volt battery workers paid to do nothing. that's what nbc affiliate w.o.o.d. find at the 2k3wr57bd rapids plant of lg chem which got $151 million of federal stimulus money. according to the report workers have so little to do they work on charity projects or play cards on company time. according to a draft obtained by the a.p., a new executive order would direct u.s. spy agencies to share intelligence with the operators of electric grids, water plants, railroads, and other vital infrastructure to help protect them from cyber attacks. >>> and finally, big tex, the 52-foot-tall talking cowboy that welcomes people to the texas state fair is no more. burning up this morning while fairgoers were eating corn dogs and t
well, the ice seems to be cracking a little on the frozen fiscal cliff front. chris van holland, number 3 house democrat, calling for extending the 2% payroll tax holiday. not permanently but as part of a larger deal. van holland says he sees a "good chance" congress will find a way to avoid all the spending cuts that part of the fiscal cliff. >>> chevy volt battery workers paid to do nothing. that's what nbc affiliate w.o.o.d. find at the 2k3wr57bd rapids plant of lg chem...
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May 17, 2012
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first up, while there is a stalemate on the fiscal cliff talks, i want to call your attention to something. let go back to last summer, negotiations over the debt limit, the deficit and the budget deal were at a grinding halt. this chart shows the period around july 31st when house speaker john boehner and president obama struck a deal to extend the debt limit and force $1.2 trillion in budget cuts. the s&p credit downgrade happened days later. take a look, the dow lost 5.6% in one 11% since before the debt deal. treasuries dropped 21% in that time. so almost a year later, where are we? not much better. and that's what's bothers me. here we have two distinguished budget committee members, marcy captor, democrat from ohio, jason, republican from utah. welcome to both of you. i have a simple idea, why not extend the bush tax cuts now, why not raise the debt ceiling now, why not make the budget cuts now and avoid the economic catastrophe that our stock market is increasingly worried about? why not do it now, ma'am? >> you know, you raise some very important points, larry. we have to keep the
first up, while there is a stalemate on the fiscal cliff talks, i want to call your attention to something. let go back to last summer, negotiations over the debt limit, the deficit and the budget deal were at a grinding halt. this chart shows the period around july 31st when house speaker john boehner and president obama struck a deal to extend the debt limit and force $1.2 trillion in budget cuts. the s&p credit downgrade happened days later. take a look, the dow lost 5.6% in one 11%...
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Sep 26, 2012
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that the deal simpson/bowles as our new ceo led fiscal reform, fiscal cliff address is addressing, dave cody and others in this discussion from honeywell, saying we had the simpson/bowles formula and no one took it further. we just parted ways and are waiting for the system to give us an answer. >> i told you collectively you should have run. i told you you should have run the last time we talked. you would have been perfect. thank you very much for your time, sir. we appreciate it. andrew liveris, the chairman and ceo of dow chemical. >>> all right. that's it for tonight's show. i appreciate you watching. i just want to end where i began. mitt romney, do not renege on your tax-cutting pledge. middle class people need higher take-home pay. the best way to do that in this environment is to lower marginal tax rates for the middle class. don't go back on your pledge, mr. romney. i'm larry kudlow. we'll be back tomorrow. i'm bara ck o bama and i approve i'm bara this message. ck o romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese ti
that the deal simpson/bowles as our new ceo led fiscal reform, fiscal cliff address is addressing, dave cody and others in this discussion from honeywell, saying we had the simpson/bowles formula and no one took it further. we just parted ways and are waiting for the system to give us an answer. >> i told you collectively you should have run. i told you you should have run the last time we talked. you would have been perfect. thank you very much for your time, sir. we appreciate it....
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Aug 13, 2012
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once again i was asking about a possible compromise about the fiscal cliff and ryan was clear no compromise in sight. that's still true. there are worries that we are never going to make a deal, never going to have a compromise deal to save our credit and debt ratings. paul ryan is, right now, clarifying and emboldening the free market, free enterprise romney campaign. good for ryan. he's a man of bold ideas. he will make the contrast between president obama's big government, tax the rich, spend and spend, his government dependency and entitlement. ryan, supply side tax cut reforms, assault on unnecessary spending. his attempt to avoid entitlement bankruptcy and his devotion to economic growth to fix america's problems. all of it, and i mean all of it is to my liking. growth, growth, growth, paul ryan. stay on that track. remember what ronald reagan and jack kemp taught us. growth solves almost all the problems. all right. let's bring in our ace political strategists. here now, veteran democratic strategist robert schrum and dick armie. dick, will ryan re-energize team romney with a bold me
once again i was asking about a possible compromise about the fiscal cliff and ryan was clear no compromise in sight. that's still true. there are worries that we are never going to make a deal, never going to have a compromise deal to save our credit and debt ratings. paul ryan is, right now, clarifying and emboldening the free market, free enterprise romney campaign. good for ryan. he's a man of bold ideas. he will make the contrast between president obama's big government, tax the rich,...
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Jul 12, 2012
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we have crazy politician who is may send us over a fiscal cliff and creating uncertainty so people aren't investing as much as they should. these are big problems. the fed is doing what it can do. it's dealing with a lot of headwinds because of not only bad behavior in the u.s. look at the european politicians and they've created. but if you look at quantities too much -- >> fred's pointed out why it doesn't work right now. he pointed out all the issues. why should we keep running an experiment of qe 1, qe2, maybe qe3, twist 1, twist 2, zero interest rates since 2008 and trying to repeat that experiment -- >> what's the alternative? >> do a greenspan? >> normalize interest rates. allow the market to work. turn around long-term interest rates, it allocates resources over time. you're not allowing the markets to do their jobs. >> let me get in here. >> and savers and retirees have been hurt very badly by this cheap money policy. >> they always get hurt by low interest rate ps. >> i don't want them to always get hurt. they're part of america, too. >> but the way to get it back up in the long
we have crazy politician who is may send us over a fiscal cliff and creating uncertainty so people aren't investing as much as they should. these are big problems. the fed is doing what it can do. it's dealing with a lot of headwinds because of not only bad behavior in the u.s. look at the european politicians and they've created. but if you look at quantities too much -- >> fred's pointed out why it doesn't work right now. he pointed out all the issues. why should we keep running an...
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Jul 9, 2012
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that means this issue and so many others in the fiscal cliff scenario will have to be dealt with sometime after the election between november and the beginning of next year. so there are six to eight weeks where washington has to deal with some stuff. for now this is all politics. >> all right. just a quickie. >> yeah. >> what you're saying is the so-called middle class tax cuts will be extended but the upper end tax cuts for the rich, et cetera, et cetera, will be ended permanently. is that the idea? ex-tep teptend the middle class? >> that's what the president is proposing. he paints it in the light of going back to the clinton era policies. he says this is about going back to an era where they have growth and job creation under bill clinton resetting rates for the rich. that would be a tax increase for them. >> many thanks. to me it sounds like more class war fare rhetoric. joining us with with reaction from the romney campaign we welcome back tim pawlenty, a key romney spokesman. great to see you, sir. >> good to be with you, larry. >> let me just ask you. i know there is class war fa
that means this issue and so many others in the fiscal cliff scenario will have to be dealt with sometime after the election between november and the beginning of next year. so there are six to eight weeks where washington has to deal with some stuff. for now this is all politics. >> all right. just a quickie. >> yeah. >> what you're saying is the so-called middle class tax cuts will be extended but the upper end tax cuts for the rich, et cetera, et cetera, will be ended...
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Oct 11, 2012
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in that debate i can make a deal, can i cross the aisle, can i find common ground. see, i think -- >> here's the problem. >> this is what people want to hear and obama's the guy that blew the deal. >> this is the problem when you talk about leadership, and going to come right out of obama's mutd, mitt romney had two positions on the bailout, five positions on abortion and six positions on obama care, romney care. you can't pin this guy down so that's why they have -- >> romney worked with a democratic legislature, balanced budgets, cut taxes, had the highest per capita growth while he was governor in massachusetts. the first 100 days of a romney administration will be one dominated by progress. >> he'll solve the tax cliff in a way that bone ha doesn't have the skills to solve it. >> absolutely. a lot to the romney story. i don't like all of it. nobody likes all of it. one thing he knows how to do is make a deal, and he's advertising that. sort of running as the deal-maker in chief, and you know what? at this moment in history to keep us out of bankruptcy it's proba
in that debate i can make a deal, can i cross the aisle, can i find common ground. see, i think -- >> here's the problem. >> this is what people want to hear and obama's the guy that blew the deal. >> this is the problem when you talk about leadership, and going to come right out of obama's mutd, mitt romney had two positions on the bailout, five positions on abortion and six positions on obama care, romney care. you can't pin this guy down so that's why they have -- >>...